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whole hog. more, harder sanctions. others like germany and italy and others are not so sure. it will boomerang back on their economies. >> germany is the key. >> germany is one key. we have chancellor merkel meeting with barack obama. that is the number one topic on their agenda, along with nsa and tapping her phone. >> what did you say last year -- [laughter] >> exactly. he may know what she is thinking. >> let's talk about the effect on american economies. -- companies. is there any consideration to say, get out of russia? >> that's what's happening. they are the ones doing the outreach. i asked if companies are lobbying for less sanctions. the administration responded, we are going to them and asking them to cut their russian exposure. citibank cut their russian exposure nine percent. still $9 billion, but significant. the white house has been lobbying and getting success with major american companies and ceo's were supposed to go to an economic conference sponsored by putin. some are pulling out entirely or reducing their delegations. >> if he keeps escalating, is there
on these expansions. germany gets $50.2 billion in exports to russia. german lobby groups are counting numbers of 3000 jobs are dependent on russian trade. interest as well. there is major interest in pushing hard on angela merkel. >> doesn't germany import a lot of natural gas from russia? other issues is on the energy side of things. you heard president obama and chancellor merkel address that today. what we're looking at next, according to officials, and the president, if sanctions are to be expanded they're going to target entire sectors. financial services, defense, and that should mean energy. when it comes to europe, that is a major problem. what chancellor merkel said today, six countries are 100% reliant on russian gas. germans are taking a third of their gas from russia. before -- for sex how they do the is a huge question right now because of the damage that would be in norma's in the european area. waxing want to thank you for this developing story. when russian forces invaded the ukraine crimea peninsula in late february, it prompted one job atist to rethink her russia's news network. >>
threats? plus president obama and germany fell chancellor angulo merkel met at the white house today. will tighter -- german chancellor angela helmet at the white house today. will tighter sanctions actually change the situation in ukraine? we will be talking about that, next. ♪ its focus is shifting to cyber security, examining financial firms' preparedness for cyber threats. they are looking at how secure they really are. joining me, the former white house cyber security commissioner tom kellerman. what is the sec's biggest fear? what is going on? >> the lack of reporting in the marketplace. more firms are being breached. significant resources in material risk. >> financial firms? >> broker's houses, major publicly traded companies. >> how is it we do not hear about that? >> off and they are not aware they have been breached until they are notified that their accounts are being sold and bartered in the shadow economy. >> it is terrifying because you think of your financial data being out there. it really means we are all being vulnerable in a certain way. who is responsible, wou
, everybody. it is always a great pleasure to welcome my friend chancellor merkel to the white house. germany is one of our strongest allies and angela is one of my closest partners. with her indulgence, i want to start by making two brief comments. first, as president, my top priority is doing everything we can to create more jobs and opportunity for hard-working families for our economic strength as a source of strength in the world. this morning, we learned our created 200 77,000 new jobs last month. all told, our business is now created 9.2 million new jobs over 50 consecutive months of job growth. the grit and determination of the american people are moving us forward but we have to keep a relentless focus on job creation and creating more opportunities for work and families. there is plenty more that congress should be doing from raising the minimum wage to creating good construction jobs and rebuilding america. i want to work with them wherever i can but i keep acting on my own wherever i must to make sure every american who works art has the chance to get ahead. -- i also wantt to say
. thanwonder if we care more angela merkel does. germany has a great business relationship with russia. wentieve gerhard schroder to work for a russian company after he was chancellor of germany. it seems that america has this , cold war,0's style leftover unhappiness, but no reason to be so worried. quickly direct economic interest in ukraine for the united states is not great. is alsode with russia not huge, although companies such as exxon mobil and boeing have important projects in russia. but it is important for foreign policy credibility. the u.s. has certain red lines. it committed to defending ukraine's territorial sovereignty. that credibility is important with respect to asia. president obama was reassuring asian partners and allies the u.s. would come to their defense in a situation in which chinese territorial ambitions seem to be growing. or is a broader repercussion that goes beyond ukraine and russia for the united states. >> we seem to be spreading ourselves them. we are going to defend asian countries against china? we are going to defend the ukraine against russia? di
on sector sanctions that will get the attention of russia? that is a fundamental issue. is germany willing to sacrifice short-term economic growth to put pressure on president putin? that is a fundamental question that needs to be answered. >> do you think they will be able to come up with an answer? >> mohamed nailed the biggest question about the meeting today. when it comes to the next round of sanctions, the big hammer the west has had hanging over fiber over vladimir putin has been the sectoral sanctions. $50 will take a major hit, billion of imports. angela merkel is hearing from their business interests. they don't want anything to do with the sectoral sanctions. her ability to stay aligned with the president is crucial for sectoral sanctions to work and not be implemented in patchwork fashion. >> mohamed, you mentioned because the economy is getting tighter that the cost of protectionism is rising as well. >> it is interesting we have not seen protectionism happen like you would have expected when we went into a major economic slowdown. the key issue now is step-by-step this diplom
from eastern ukraine being critical to de-escalate that. you andst met preferred, germany, we were covering a story for the european central bank. chancellor merkel speaks to present obama today. and they have a press conference. what will europe want to hear from chancellor merkel? will want what kiev to hear from chancellor merkel is that they are not going to hold back from further sanctions or any other action on russia after the latest exclamation -- escalation. of course for its part, russia is blaming ukraine, saying they sent a convoy in order to negotiate the release of the eight monitors who were captured by pro-russian separatists earlier. so i think what the ukraine wants to hear is that there is no stepping back, that they are ready to continue to back them on this. right heather, yesterday vladimir putin effectively told erchnof ofchurch an pull back. how are they reacting to that statement in kiev? are think people in kiev very much on amused by what putin has said after what happened here. it is pretty much business as usual, but they are obviously behind the govern
relationships between the u.s. and germany in the past. >> the snowden spy stuff really poisoned relationships. it is going to be on the back burner, but it will be raised. that won't dominate the conversation. there will be a little bit of talk about getting these trade talks back in order. merkel is meeting with companies in the states as well. for the most part, i think they have four hours of talk scheduled. this is going to be about ukraine's and how you unify and make sure that the u.s. and the eu are on the same page and how you can convince the russians the errors of their ways. >> hans, we will leave it there. correspondent,al hans nichols. >> pharma frenzy friday. uprazeneca's vid is going -- bid is going up. does seem, we were talking about consolidation. this is about drawing battle about right? this is every large pharmaceutical company trying to take a chunk of the business. >> what you have here is the king of the megamerger. they have done these deals before. destruction isue a big moot point. at the moment, what they're saying is they will a 50 quit on the table and are prepar
. a white house spokesman said that germany's anger over the nash -- over the nsa surveillance program which caused merkel to cancel a u.s. trip last year will not complicate a joint effort to address the situation in ukraine. u.s. employers probably boosted payrolls in april by the most in five months. economists predict that the u.s. added 218,000 jobs last month after a gain of 192000 and march. a pickup in april would follow data this week showing that households spent more freely and manufacturing accelerated. to the pollstakes next week in the country's finance minister seems sure that the ruling anc will retain power. we sat down for an exclusive conversation. having the advantage of an institution like the african national congress which will win the election by significant majority means there is continuity and transparency and relative certainty about what we intend to do. we have a record of translating election manifestoes and a commitment to the national development plan into business plans for government departments. >> south africa's true growth potential is being hampered by
to balance or business interest in germany. you look at some of the traits they have what russia. it is the largest trading partner in the eu. seen her get increasingly upset with vladimir cutin. putin. of her relationship with barack obama, we have seen clear telegraphing from german officials is that they will put aside all of their nsa, the snooping, the eavesdropping and put all that aside. the focus will be how do you get the european union and the u.s. aligned with one voice. does that mean additional sanctions. what were they due to present a unified front? in some ways, they look at putinl as a kind of baye whisperer. they look to her tables translate putin -- to her to translate putin. it will been interesting conversation. courses might be a little bit early in the morning. >> i went into a whiskey distillery but there's only one catch, they haven't officially made any whiskey yet. is the first whiskey maker in london for more than a century. darren brooks, this is part of a wider trend towards craft brewing in the u.k. and a dayhree years for this to become whiskey. th
that country's jurisdiction. that is a big difference because if you bring money back into germany or the u.k., it won't get hit with that tax again. >> is there any chance this will change him a that the system in the u.s. will start to look more like the system in places like the u.k. or germany? >> that is a question for the congress and the obama administration. the obama administration in its latest budget proposal, it is trying to tweak inversions and make it more difficult to do this. it is more of a tweet to the system, not an overhaul. it likely won't stop inversions, but make it more difficult, and frankly, more employment for my tax brethren. >> i want to thank you, gordon caplan. coming up next, the pga just announced where the 2022 pga champions tour is going to be held. i will be speaking to the president of the pga. and i will be speaking to sports legend david robinson about mentoring and his business interests outside of basketball. ♪ >> today, the professional golfers association of america announced new jersey's trump golf club is going to host the 2022 pga champions to
a deal done with t-mobile. it's got to negotiate with budget telecom back in germany, t-mobile.of >> u.s. regulators seem to be the hurdle. i think back to the at&t deal in 2011, everyone thought it will pass but u.s. regulators stopped it. what is he thinking? at&t buying t-mobile is different from sprint brine t-mobile. at&t is one of the big dominant ones up there with verizon. they are one and two. three and four are a distant three and four. he said, you put three and four together, we are still going to struggle to compete with one and two. also if you have the comcast situation. in a lot of ways, all of this is coming together. cable companies and dish companies and phone companies are all becoming one. he is going to argue that the landscape is different and it was just a few years ago. >> so they are trying to piggyback on the comcast-time warner cable deal, hoping regulators will see it as the whole industry shaking up. >> there was the airline deal when american airlines merge with u.s. air. you ask how it is relevant. the regulators let a deal go through that a number of fo
. >> there are four companies involved. sprint is 80% owned by softbank. t mobile is 67% owned by germany's deutsche telekom. that's why it is so confusing. >> is the government involved? >> absolutely, you have to get this passed the fcc and the department of justice. is the fourth-largest carrier in the u.s. only block the at&t deal with everyone thought would go through. >> $23 billion is the valuation? julian emmanuelle is with us from ubs. the fed has expressed confidence that we can grow going forward given the fact that we are continuing to taper. now we are seeing corporate executives express the same confidence in m&a. a month ago, we predicted it could grow by 17% this year. now, the numbers look like it's closer to 40%. >> will we see nominal gdp? you guys say the word confidence too much. that's what this is about. >> we were just talking about capex. m&a is just buying someone else's capital stock. you will get rewarded for that in the future. i bring it back to getting off the zero rate environment. i think zero rate of the most corrosive thing that anyone has ever seen and if you want
. referring to the experience of germany. strictly't follow very . we are in a recovery stage and italy has got a public debt a bit higher than what germany had. i still think that the structural reforms they need do not require big deficits. they require implementation. i still prefer to see more work on structural reforms rather than saying -- >> it might be easier. that was the point i was making. >> it you look at the structural reforms, it boils down to the problem italy has had before. politics, it is mustering the support to push these reforms and have the dozens of political parties backing matteo renzi. is he the guy that is going to push this through? if he doesn't, does italy have a chance? >> it is more likely that renzi then berlusconi's government. willingness to implement structural reforms. renzi does have a fragmented majority behind him. however, it is also in the interest of the party. so renzi has to master the actually giving up implementing reforms. >> institutional reform or structural reform? one presumably has to go hand-in-hand with the other. get the institutional
-mobile is the fourth-largest carrier in the state. it is owned by deutsche telekom in germany. it is a separate company in the states. when at&t try to buy it. wall street thought it would go through. it was price in. and the regulator said no. softbank need to get regulatory approval. the need to make the case this will not harm consumers. it will give consumers more options. >> so hans, who might run the company? >> john leger. the leading candidate. he is the current ceo and president of t-mobile usa. he is the leading candidate. deutsche telekom and softbank are talking about potential names. this is not a done deal. john leger a colorful figure. we have colors of him -- p ictures of him crashing and at&t consumer electronic show. if he's head of this new company, maybe he can get into mclemore parties by by himself. >> you see him with the pink t-shirt. hans nichols with the very latest possible merger. still with us for more of his views on the markets, the global seed investment officer -- global investment officer. before the break, we were talking about what you like in the markets. you are qu
making me the least important person in germany because i'm working. >> i do feel sorry for him. >> you are definitely important to us. thanks for showing up. >> don't miss a conversation with t-mobile president, john legere on "bloomberg west." >> underscoring weakness. we are bringing in mia saini from hong kong. china has passed the biggest changes in pollution regulation and now we see this manufacturing member coming in lower than estimated. those are to some extent linked. >> that's a very good point. like hans, i'm working on my holiday and the chinese markets are closed for labor day, including hong kong. we have the april pmi figures coming in at 50.4, lower than the median estimate. march is 50.3. this is still expansion territory, anything above 50. really feeling the brunt of this because of the breakdown of the type of enterprises is that they are still in expansion mode while the smaller ones are contracting. that's 10% of the overall 50.4 number. the pmi reports from today and last week in terms of that consistently shows a decline in export orders this fight the pollutio
incentives -- >> policies like germany. why can't we be more like germany? dividedse we have a government in washington that is completely gridlocked on the subject of economic policy. so we get absolutely nothing out of washington leading the fed to carry the bomb. impetus on one particular level of policy and it's already so pushed to the extreme, potentially bad things are going to happen down the road. he will have unintended consequences. maybe another financial crisis you're notnt. helping the long-term unemployed. >> you worked for years at bear economics. now rdq do you still have the worry of future inflation? inflation could be a problem in the future? >> i do. right now, the liquidity the fed idle on banks balance sheet. we start to reconnect the banks willingness to lend with the amount of reserve they have available, the money supply could literally explode and the fed could do little about it. we saw that in the 1970's. we have sort of forgotten about the potential for that to happen. i think that risk is there. >> we're thrilled to have you here on fed day. even more thrill
said that germany and france share similar social and political economies and it would be much easier for france to intervene with a german company then it would be with a u.s. company. that says a lot about his attitude towards what they call anglo-saxon capitalism. >> this is something we have seen over and over again. the left-leaning side of the socialist party. how should we take these comments? >> for readers and viewers who are not familiar with french politics, it is important to note that the socialist party has always had a business wing and a hard left wing. universe, nate montebourg is very much on the left. there are competing strands in the socialist party and we saw that on monday, when the government tried to walk back much worse comments over the weekend about favoring siemens. there is a concern about being seen as close for business, hostile towards investment. the fact that ge has gone far enough to announce what they have announced today suggests that the business wing is one that is round, at least for now. >> thank you very much. >> shares of sale are coming thi
countries right now. really pushing hard to germany and france. kate mavs is not just a british style icon. she is a worldwide famous face. she has helped launch -- kate styles not just a british icon. she is a worldwide famous face. she has helped launch many -- i think it was in 19 [indiscernible] at the tender age of 14. this is why this is all about kate moss the business. she rates and 12 million pounds. gather inre tax x i >. collection good >> there was a stampede to get in when it was unveiled. people were snatching dresses off the racks. in the likes of -- there are many tactics. u.k.ct, if you're in the or from the united states, all of the designs of kate moss from nordstrom, it will be out before the rest is out good you can go online and start ordering. it will be interesting to see how many are there for ebay. still buy some of those dresses for 130 pounds. she does seem to be a bit of an icon. it launches across the world later. back to you. >> thank you. i look forward to that. think the the people strategy was to drink wine. [laughter] i'm sure that something a dangerous c
borrowing. in europe, germany has a growth rate of 0.8% in turkey has a growth rate of 4%. how can you have corruption and achieve all of this? it is clear for all to see. the people appreciated that and they were 45.5% in favor of this government. otherwise why would they keep voting us in? >> i want to stay with this for a second. they also raise the question the same people that were there are prosecuting the military and you seemed to agree with that at the time. then when they came after you, you look back at what they did in the military and they said maybe it was not good. have you changed your mind about the legitimacy of the prosecution against the military? >> let me tell you one thing. we are always against wrongdoing. when the chief of general staff was arrested, i made some statements then. if you go back and look at those statements, you will see that i have said i did not think it was right for him to be kept in custody and remanded to be prosecuted in this way. i said it was not these courts but he should have been subject to the judgment of higher judicial bodies and the co
much more pain than germany. in that sense, the west still has some real cards to play. >> do they have the guts to play them? >> that's an excellent question. >> by renouncing the use of military force, i think the president has undermined his own diplomacy. sanctions are a powerful weapon but russia is a lot bigger than russia -- then i ran -- is a lot bigger than iran. >> there is an institutional malaise, governments are too large and spend too much money. there are people who disagree with you. in your opinion, who is the most dangerous economic thinker writing today? >> i'm going to be extremely careful about answering that. >> you've never been extremely careful to date, why start now? are you kidding me? >> it is important not to personalized debate. the economics profession has a lot to answer for. there have been flawed models that led us into a financial crisis that hardly any professional economists foresaw. they tend to think the world is some kind of machine they can model. that has led us into all kinds of policy errors and wrong diagnoses. i won't name any in particular
a strong euro run parody of germany taking back towards that mandated two percent, at least in germany. the big one for the eurozone comes out tomorrow. and itget low inflation moves gradually back towards target? look for tomorrow's number for any indication of that. europe surges-other day. up by 6/10. plenty of m&a and corporate activity to talk about. $1 trillion worth of bills so far. if you look at earnings, not so good. 44% of the companies on the stock 600. only 40. 4%. you can see the pessimism around you is earnings. so far. missing european stocks are higher. european futures are higher as well. >> jonathan ferro, thank you very much, indeed very >> earlier, we looked at how bp's business in the country could be affected. now, let's look at a different side effect, possible side effect of sanctions. ceo.e joined by christie's he joins us for an exclusive conversation. his gray chevy here. thank you for coming in. soon.a bit too next week we have our impressionist sale in new york city. our impressions right now is that there won't be that much change in the activity of our k
hans nichols joins us from germany. >> futures are hot. .t was the activity in m&a0 it will be about the data points. forronger gdp, a bigger day data and affects. >> it certainly well. we'll have to watch. you are watching bp sanctions. >> as a reporter first -- they reported results. they bumped up the dividend. their smallest increases the gulf spill. whattors on the whole like they are hearing. the big issue for bp is a they cannot catch a break. 4 years and nine days after the gulf spill him a they have a another big problem. it is called russia. are watching deutsche bank. we have had earnings. up aancine, wrapping conference call. he will not rule in or out any capital increases. a great deal of reporting over the week, the past week they have to were inspired billion in a new shares. revenues were down, profit was the dow. it was a beat on the numbers. would take a closer look. -- profits were down. -- we will take a closer look. months, back to microsoft. with the purchase of the phones or units. nokia have announced that rajeev suri will be taking the helm.
the contours of his huge industrial company in germany. they're about to announce that next wednesday. for them, it is really a fly in the ointment. i'm interested to see whether tomy do get that bid for als coming from siemens at all. these giantsh of will have the chance of winning? >> according to people who are boardg to alstom, their is leaning more towards ge. there are couple of reasons for that. you have less industrial overlap that you would with the german company. ant for import francois hollande. for him the most important thing is jobs and maintaining operations in france. energy policy ways on the government as well. in germany you have an energy policy where they want to scrap nuclear. france you have nuclear supplying 70% of their electricity. the final if you look at all of this is it could come down to the politics. when you ask a have to sell one of these big companies, it could be easier for france to sell a siemens offered that it would be for ge. snubfrance really want to the united states? it is a balancing act there. >> and people think of monaco, they think of casinos,
siemens of germany. >> they stepped in. >> they want to create a deal that creates to european japanese instead of ge taking over. audience withe an the french president. is he going to wear dartmouth green tights? an audience? >> with a president whose approval rating is similar to that of our own president. i think it is bizarre. >> there is breaking news. will take on it more customers. this a top headline. they will divest almost 4 million customers. charter reap -- reports earnings later. >> no more headlines this morning. what else do we have? the yankees won. >> moving onto politics, war sanctions against russia over the crisis in ukraine. president obama says the u.s. and the eu will announce them later today. he spoke after arriving in manila as part of his asia trip. forwarde going to move with an expanded list of individuals and companies that will be affected by sanctions. they remain targeted. areas ofocus on some high tech defense exports to russia. we don't think they are appropriate to be exporting in this kind of climate. military has started exercises on the ukraine bo
the deputy foreign minister of germany is what the eu is likely to do is expand that list of sanctioned individuals they have by another 15 people. no companies that we know of yet. basically, more so-called stage to sanctions. >> who is going to be hit? >> from the u.s. sanctions, we heard from president obama earlier today talking about going after high-tech military aports, that would suggest company that exported $16 billion of russian weapons last year. >> ryan, thank you so much. ryan chilcote with the latest on these possible extra sanctions. we are back in a couple of minutes. ♪ >> welcome back. let's talk about the currency markets. euro/dollar spiking higher. reasons for this, a bunch of m&a today. you have got u.s. gdp this week. you have got the fed this week. there is talk as well that various russian entities may be looking to exit the ruble. there are various permutations about how you do this. all of this in aggregate could be affecting the dollar today. as you can see, a big spike earlier on. trading 1.3875. coming up, ge versus siemens in the battle for alstom. the h
audience for ge's ceo and a rival bid from germany's siemens. settles a remarkable three-day scramble. hans nichols is in berlin to break down oust him down -- break down alstom's choices. are they going to be open on friday? >> they will not be open until wednesday. they have until then to , oneerate over one bid formal offer. it comes down to one crucial question. here is the ceo of an american company. do you ask for permission from the french government first before putting out that big? jeff himmel had the conversations with alstom. his board has approved it. then the french government got wind of it. today, he has a meeting with french president for an swap along. -- francois hollande. did he oron there is, should he have contacted the french state before he started getting everything in line? what has happened in the meantime, siemens has put together a rival bid. this is an asset swap. siemens would take the energy unit from alstom and give them the train unit. they are prepared to make guarantees for no job cuts for at least three years. it would make france the leader of rail and
of germany from the dasm which was down 2%. and of course germany is most exposed immediately through the situation in ukraine. sanctions will perhaps hit russia. >> the energy more than anything else. >> as much as energy. germany exports an enormous of its good through russia. there's a close economic relationship. and if you start disrupting that then a major source for income for germany is being disrupted. so that's an issue. >> there's a close economic relationship. and if you start disrupting that then a major source for income for germany is but what really? s it really pay-back time as russia would like to put it because of what happened in the 90s and the collapse of the soviet union that we were allowed to go in and take over places of raugs russian strategic influence and was able to do that fairly in a cavalier way that now it's time that mr. putin says enough is enough? >> i worked in germany in that period of time. and was there in 1990 when german unification came about. and the soviet union collapsed. and nobody at that time would have imagined that nato would extend
Search Results 0 to 32 of about 33 (some duplicates have been removed)